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Report Date : |
19.06.2012 |
IDENTIFICATION DETAILS
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Name : |
AASTHA (HK) LTD. |
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Registered Office : |
C/o Embassy International (HK) Ltd. Unit D, 26/F., |
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Country : |
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Date of Incorporation : |
20.03. 2012 |
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Com. Reg. No.: |
59541659 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Jewellery and Diamond Trader |
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No. of Employees : |
2. (including affiliates) |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
AASTHA (HK)
LTD.
ADDRESS: c/o Embassy International
(HK) Ltd.
Unit D, 26/F.,
PHONE: 2368 4768
FAX: 2739 5226
E-MAIL: embassyhk@gmail.com
Managing Director: Mr. Puneet Kumbhat
Incorporated on: 20th
March, 2012.
Organization: Private
Limited Company.
Capital: Nominal: HK$10,000.00
Issued: HK$10,000.00
Business Category: Jewellery and Diamond Trader.
Employees:
2. (including
affiliates)
Main Dealing Banker: The Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation: Too early to
comment.
Registered Head Office:-
c/o Embassy International (HK) Ltd.
Unit D, 26/F.,
Affiliated Companies:-
Ciro Diamond Ltd.,
Embassy International (HK) Ltd., Hong Kong. (Same address)
59541659
1718712
Managing Director: Mr. Puneet Kumbhat
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of
HK$1.00 each)
Issued Share Capital: HK$10,000.00
(As per registry dated 20-03-2012)
|
Name |
|
No. of share |
|
Puneet KUMBHAT |
|
10,000 ===== |
(As per registry dated 20-03-2012)
|
Name (Nationality) |
Address |
|
Puneet KUMBHAT |
A-264, Shastri Nagar, |
(As per registry dated 20-03-2012)
|
Name |
Address |
|
|
Kaizen Secretaries Ltd. |
Room 2103, 21/F., |
0640440 |
The subject was incorporated on 20th March, 2012 as a private limited
liability company under the Hong Kong Companies Ordinance.
Apart from these, neither material change nor amendment has been ever
traced and noted.
Activities: Jewellery
and Diamond Trader.
Lines: Diamond
& Jewellery, etc.
Employees: 2.
(including affiliates)
Commodities Imported:
Markets:
Annual Turnover: Not reported.
Terms/Sales:
As per contracted.
Terms/Buying: Prepayment,
L/C, etc.
Nominal Share Capital: HK$10,000.00 (Divided into 10,000 shares of HK$1.00
each)
Issued Share Capital: HK$10,000.00
Profit or Loss: Too early to offer an opinion.
Condition: Business
is under development.
Facilities: Making
fairly active use of general banking facilities.
Payment:
Met trade
commitments as required.
Commercial Morality: Too
early to comment
Banker:
The Hongkong
& Shanghai Banking Corp. Ltd.,
Standing:
Small.
Having issued 10,000 ordinary shares of HK$1.00 each, Aastha (HK) Ltd. is
wholly owned by Mr. Puneet Kumbhat who is an Indian. He is an
The subject’s registered address is located at Unit D, 26/F., 8 Hart
Avenue, Tsimshatsui, Kowloon, Hong Kong where is the operating address of a
Hong Kong registered firm known as Embassy International (HK) Ltd.
[Embassy] This firm is handling its
correspondences.
Embassy is a diamond trader. It
is trading in loose diamonds with ‘VVS to Pique’ quality. The contact person of Embassy and the subject
is Mr. Dipen Gandhi who is also an Indian.
Embassy currently has about two employees in
Besides Embassy, another firm known as Ciro Diamond Ltd. [Ciro] is also
located at the same address.
Incorporated on 11th March, 2009, Ciro is a solitaire diamond
wholesaler. It is specialized in those
diamonds size from 0.30 to 10 carats.
Mr. Dipen Gandhi is the director of Ciro.
The subject is also a diamond importer, exporter and wholesaler. It is trading in loose, polished and cut
diamonds. Most of the commodities are
imported from
It is likely that the subject has got an associated company in
It is also likely that the
The history of the subject in
Since the subject’s history is short in
DIAMOND INDUSTRY –
-
From time immemorial,
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
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The diamond jewellery industry in
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious import
– export, inter-company transactions, financially assisted by banks. In the
process, several public sector banks lost several hundred million rupees. They
mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND
SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of
losing Rs 2000 crore lent to a dozen diamond firms in
-
Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share market.
The banks are not in a position to seize their properties because in many
cases, these were purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.59 |
|
|
1 |
Rs.87.34 |
|
Euro |
1 |
Rs.70.66 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.